Swmg LLC Has $914,000 Position in Broadridge Financial Solutions, Inc. $BR

Swmg LLC boosted its holdings in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) by 16.0% during the second quarter, Holdings Channel reports. The institutional investor owned 3,621 shares of the business services provider’s stock after acquiring an additional 500 shares during the quarter. Swmg LLC’s holdings in Broadridge Financial Solutions were worth $914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Koshinski Asset Management Inc. lifted its holdings in shares of Broadridge Financial Solutions by 17.7% during the second quarter. Koshinski Asset Management Inc. now owns 6,993 shares of the business services provider’s stock valued at $1,700,000 after acquiring an additional 1,050 shares during the period. Stanley Laman Group Ltd. lifted its holdings in shares of Broadridge Financial Solutions by 15.4% during the second quarter. Stanley Laman Group Ltd. now owns 1,082 shares of the business services provider’s stock valued at $263,000 after acquiring an additional 144 shares during the period. Nicholson Wealth Management Group LLC lifted its holdings in shares of Broadridge Financial Solutions by 1.8% during the second quarter. Nicholson Wealth Management Group LLC now owns 6,677 shares of the business services provider’s stock valued at $1,623,000 after acquiring an additional 118 shares during the period. Chevy Chase Trust Holdings LLC lifted its holdings in shares of Broadridge Financial Solutions by 1.1% during the second quarter. Chevy Chase Trust Holdings LLC now owns 62,043 shares of the business services provider’s stock valued at $15,078,000 after acquiring an additional 672 shares during the period. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of Broadridge Financial Solutions by 2.8% during the second quarter. Stratos Wealth Partners LTD. now owns 19,407 shares of the business services provider’s stock valued at $4,717,000 after acquiring an additional 528 shares during the period. 90.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BR has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Broadridge Financial Solutions in a report on Wednesday, October 8th. Wall Street Zen raised Broadridge Financial Solutions from a “hold” rating to a “buy” rating in a report on Saturday, October 4th. UBS Group lifted their price target on Broadridge Financial Solutions from $250.00 to $280.00 and gave the company a “neutral” rating in a report on Friday, August 8th. Morgan Stanley lifted their price target on Broadridge Financial Solutions from $222.00 to $261.00 and gave the company an “equal weight” rating in a report on Wednesday, August 6th. Finally, Needham & Company LLC lifted their price target on Broadridge Financial Solutions from $300.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, August 6th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $261.50.

Insider Activity

In other news, CEO Timothy C. Gokey sold 84,571 shares of the business’s stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $259.53, for a total transaction of $21,948,711.63. Following the completion of the transaction, the chief executive officer directly owned 165,634 shares in the company, valued at approximately $42,986,992.02. The trade was a 33.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Christopher John Perry sold 7,036 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $262.72, for a total value of $1,848,497.92. Following the transaction, the president owned 48,813 shares of the company’s stock, valued at $12,824,151.36. The trade was a 12.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,532 shares of company stock valued at $38,417,208 over the last 90 days. Corporate insiders own 1.10% of the company’s stock.

Broadridge Financial Solutions Price Performance

Shares of BR stock opened at $228.97 on Friday. The stock has a 50-day moving average price of $246.88 and a 200 day moving average price of $242.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.04. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 32.30 and a beta of 0.95. Broadridge Financial Solutions, Inc. has a 12 month low of $208.20 and a 12 month high of $271.91.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings data on Thursday, March 3rd. The business services provider reported $0.73 EPS for the quarter. The firm had revenue of $1.05 billion during the quarter. Broadridge Financial Solutions had a return on equity of 42.72% and a net margin of 12.19%. Research analysts expect that Broadridge Financial Solutions, Inc. will post 8.53 EPS for the current year.

Broadridge Financial Solutions Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 2nd. Stockholders of record on Thursday, September 11th were given a dividend of $0.975 per share. This represents a $3.90 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Thursday, September 11th. This is an increase from Broadridge Financial Solutions’s previous quarterly dividend of $0.88. Broadridge Financial Solutions’s dividend payout ratio is presently 55.01%.

About Broadridge Financial Solutions

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.